PANHANDLE-PLAINS STUDENT FINANCE: Form 990, tax year 2015
View the entire original 990 at ProPublica ↗
- Organization
- PANHANDLE-PLAINS STUDENT FINANCE (EIN 75-2059556)
- Tax period
- 2015-09-01 to 2016-08-31
- Filed
- 2017-07-17
- IRS object ID
- 201721989349300032
- Schema version
- 2015v3.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2017-07-17T09:20:16-05:00 | ReturnTs |
| Tax Period End | 2016-08-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 463602660 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JOHNSON & SHELDON PLLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 509 | AddressLine1Txt |
| City | AMARILLO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 791050509 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2015-09-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 752059556 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PANHANDLE-PLAINS STUDENT FINANCE | BusinessNameLine1Txt |
| Business Name Line2 | CORPORATION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PANH | BusinessNameControlTxt |
| Phone | 8063244100 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1303 23RD STREET | AddressLine1Txt |
| City | CANYON | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79015 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JIMMY PARKER | PersonNm |
| Person Title | EXECUTIVE DIRECTOR | PersonTitleTxt |
| Phone | 8063244100 | PhoneNum |
| Signature | 2017-04-10 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | RICHARD W BLANKENSHIP CPA | PreparerPersonNm |
| PTIN | P00172630 | PTIN |
| Phone | 8063717661 | PhoneNum |
| Preparation | 2017-07-13 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2015 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JIMMY PARKER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1303 23RD ST | AddressLine1Txt |
| City | CANYON | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79015 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $3,127,540 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.PPSFC.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1985 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | PROVIDING FUNDS FOR THE PURCHASE OF STUDENT LOANS AT THE POST-SECONDARY LEVEL, AND TO PROVIDE PROCEDURES FOR THE SERVICING OF SUCH LOANS AS REQUIRED FOR CONTINUED PARTICIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $3,257,569 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $3,112,274 | CYProgramServiceRevenueAmt |
| PY Investment Income | $6,611 | PYInvestmentIncomeAmt |
| CY Investment Income | $15,169 | CYInvestmentIncomeAmt |
| PY Other Revenue | $9,048 | PYOtherRevenueAmt |
| CY Other Revenue | $97 | CYOtherRevenueAmt |
| PY Total Revenue | $3,273,228 | PYTotalRevenueAmt |
| CY Total Revenue | $3,127,540 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,904,146 | PYOtherExpensesAmt |
| CY Other Expenses | $2,890,071 | CYOtherExpensesAmt |
| PY Total Expenses | $2,904,146 | PYTotalExpensesAmt |
| CY Total Expenses | $2,890,071 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $369,082 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $237,469 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $75,484,894 | TotalAssetsBOYAmt |
| Total Assets EOY | $75,651,268 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $55,334,537 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $55,263,442 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $20,150,357 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $20,387,826 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | PROVIDING FUNDS FOR THE PURCHASE OF STUDENT LOANS AT THE POST-SECONDARY LEVEL, AND TO PROVIDE PROCEDURES FOR THE SERVICING OF SUCH LOANS AS REQUIRED FOR CONTINUED PARTICIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $2,828,447 | ExpenseAmt |
| Revenue | $2,888,543 | RevenueAmt |
| Desc | PROVIDING FUNDS FOR THE PURCHASE OF STUDENT LOANS (BOTH FFELP STUDENT LOANS AND ALTERNATIVE STUDENT LOANS) AT THE POST-SECONDARY LEVEL, AND TO PROVIDE PROCEDURES FOR THE SERVICING OF SUCH LOANS AS REQUIRED FOR CONTINUED PARTI- CIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Revenue | $223,731 | RevenueAmt |
| Desc | UNDER ITS CONTRACT WITH MOHELA (AN INDEPENDENT STUDENT LOAN SERVICER AND ALSO AN OFFICIAL U.S. DEPARTMENT OF EDUCATION SERVICING CONTRACTOR) TO SERVE AS AN ELIGIBLE NOT-FOR-PROFIT (NFP) SERVICER PURSUANT TO FEDERAL STUDENT AID'S (FSA) SOLICITATION (NFP-RFP-2010) AND MOHELA'S CONTRACT WITH FSA, AN INITIAL MINIMUM 100,000 STUDENT LOAN ACCOUNTS SERVICING RIGHTS WERE ALLOCATED TO PPSFC. PRICING TERMS INCLUDED IN THE CONTRACT INCLUDED SERVICING FEE REVENUE BEGINNING JUNE 2012, PLUS ALSO AN INITIAL ON-SYSTEM CONVERSION FEE. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $2,828,447 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | false | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | false | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 1 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (true) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | false | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JIMMY PARKER | PersonNm |
| Phone | 8063244100 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1303 23RD STREET | AddressLine1Txt |
| City | CANYON | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79015 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (10 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt |
|---|---|---|---|---|---|---|---|
| ANN DUNCAN | |||||||
| VICE PRESIDE | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JAN BENTON | |||||||
| SECRETARY | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | 2.00 |
| PAUL K HENDERSON | |||||||
| PRESIDENT | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| BEVERLY COTTINGHAM | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| QUINN ALEXANDER | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | 2.00 | |
| RON GAMMAGE | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| BILL FORBES | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| JIMMY PARKER | |||||||
| EXECUTIVE DI | 5.00 | Yes (X) | $0 | $178,909 | $26,149 | 35.00 | |
| JOHN WRIGHT | |||||||
| SENIOR VICE | 10.00 | Yes (X) | $0 | $152,425 | $38,194 | 30.00 | |
| ZACH BELL | |||||||
| CFO | 10.00 | Yes (X) | $0 | $114,030 | $29,326 | 30.00 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Reportable Comp Rltd Org | $445,364 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $93,669 | TotalOtherCompensationAmt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PANHANDLE-PLAINS MGT & SERV CORP | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1303 23RD STREET | AddressLine1Txt |
| City | CANYON | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79015 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | LOAN/MGT/OPER | ServicesDesc |
| Compensation | $1,003,706 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| STUDENT LOAN INTEREST - NET | 522298 | $2,888,543 | $2,888,543 |
| MOHELA CONVERSION FEE & SERVI | 522298 | $223,731 | $223,731 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $3,112,274 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $15,169 | TotalRevenueColumnAmt |
| Exclusion | $15,169 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER INCOME | Desc |
| Total Revenue Column | $97 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $97 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $97 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,127,540 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $3,112,371 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $15,169 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $47,276 | TotalAmt |
| Program Services | $23,638 | ProgramServicesAmt |
| Management And General | $23,638 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $29,500 | TotalAmt |
| Program Services | $14,750 | ProgramServicesAmt |
| Management And General | $14,750 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,000 | TotalAmt |
| Program Services | $6,000 | ProgramServicesAmt |
| Management And General | $6,000 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $952,937 | TotalAmt |
| Program Services | $952,937 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,350 | TotalAmt |
| Management And General | $15,350 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| PROVISION FOR LOAN LOSSES | $397,188 | $397,188 |
| MAINTENANCE & OPERATING F | $384,777 | $384,777 |
| CONSOLIDATION FEES | $378,123 | $378,123 |
| NOT FOR PROFIT OFFSET | $320,571 | $320,571 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $352,349 | TotalAmt |
| Program Services | $350,463 | ProgramServicesAmt |
| Management And General | $1,886 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,890,071 | TotalAmt |
| Program Services | $2,828,447 | ProgramServicesAmt |
| Management And General | $61,624 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,865,686 | BOYAmt |
| EOY | $2,679,057 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,181,523 | BOYAmt |
| EOY | $7,569,219 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,653,761 | BOYAmt |
| EOY | $2,611,438 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $65,924,450 | BOYAmt |
| EOY | $62,788,387 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,167 | BOYAmt |
| EOY | $3,167 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,728,965 | BOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $127,342 | BOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,484,894 | BOYAmt |
| EOY | $75,651,268 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $162,970 | BOYAmt |
| EOY | $179,270 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $55,400,000 | BOYAmt |
| EOY | $55,400,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$228,433 | BOYAmt |
| EOY | -$315,828 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $55,334,537 | BOYAmt |
| EOY | $55,263,442 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,868,853 | BOYAmt |
| EOY | $2,682,223 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,281,504 | BOYAmt |
| EOY | $17,705,603 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,150,357 | BOYAmt |
| EOY | $20,387,826 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,484,894 | BOYAmt |
| EOY | $75,651,268 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $237,469 | ReconcilationRevenueExpnssAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (true) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (true) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $5,097,771 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,565,692 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,333,847 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,257,569 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,112,274 | CurrentTaxYearAmt |
| Total | $18,367,153 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $5,097,771 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,565,692 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,333,847 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,257,569 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,112,274 | CurrentTaxYearAmt |
| Total | $18,367,153 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $18,367,153 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $6,959 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $7,735 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $6,586 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $6,611 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $15,169 | CurrentTaxYearAmt |
| Total | $43,060 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $6,959 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $7,735 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $6,586 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $6,611 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $15,169 | CurrentTaxYearAmt |
| Total | $43,060 | TotalAmt |
Other Income509 OtherIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $80,000 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $73,500 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $129,169 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $9,048 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $97 | CurrentTaxYearAmt |
| Total | $291,814 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $5,184,730 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,646,927 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,469,602 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,273,228 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,127,540 | CurrentTaxYearAmt |
| Total | $18,702,027 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.98210 | PublicSupportCY509Pct |
| Public Support PY509 | 0.98360 | PublicSupportPY509Pct |
| Investment Income CY | 0.00000 | InvestmentIncomeCYPct |
| Investment Income PY | 0.00000 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART III, LINE 12 | FormAndLineReferenceDesc |
| Explanation | GAIN ON DISC BOND REDEMPTION 167,500 GAIN ON FFELP LOAN SALES 124,217 MISCELLAENOUS 97 | ExplanationTxt |
Schedule D IRS990ScheduleD
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | UNAMORTIZED ORIGINAL ISSUE DISCOUNT | Desc |
| Amt | -$315,828 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | -$315,828 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $3,127,540 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $3,127,540 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $3,127,540 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $2,890,071 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $2,890,071 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $2,890,071 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE D, PAGE 3, PART X | FormAndLineReferenceDesc |
| Explanation | THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE), AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTION 509(A) OF THE CODE. AS A RESULT, INCOME TAXES ARE NOT INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE CORPORATION COMPLIES WITH FASB ASC TOPIC 740, "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES" (TOPIC 740), WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE CORPORATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE- RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE CORPORATION'S TAX POSITIONS AND CONCLUDED THAT THE CORPORATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. WITH FEW EXCEPTIONS, THE CORPORATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL TAX AUTHORITIES FOR YEARS ENDING BEFORE AUGUST 31, 2013. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)
| TitleTitleTxt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt |
|---|---|---|---|---|---|
| JIMMY PARKER | |||||
| EXECUTIVE DIRECTOR | $163,909 | $15,000 | $14,900 | $11,249 | $205,058 |
| JOHN WRIGHT | |||||
| SENIOR VICE PRESIDEN | $142,425 | $10,000 | $12,948 | $25,246 | $190,619 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE J, PART III | FormAndLineReferenceDesc |
| Explanation | PART I, LINE 3: SEE SCHEDULE O FOR DISCLOSURES RELATED TO COMPENSATION PROCESS BY RELATED ORGANIZATION, PANHANDLE PLAINS MANAGEMENT & SERVICING CORPORATION. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990 - ORGANIZATION'S MISSION | PROVIDING FUNDS FOR THE PURCHASE OF STUDENT LOANS AT THE POST-SECONDARY LEVEL, AND TO PROVIDE PROCEDURES FOR THE SERVICING OF SUCH LOANS AS REQUIRED FOR CONTINUED PARTICIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965. |
| FORM 990, PAGE 6, PART VI, LINE 3 | PANHANDLE PLAINS STUDENT FINANCE CORPORATION (PPSFC) HAS A CONTRACT WITH PANHANDLE-PLAINS MANAGEMENT & SERVICING CORPORATION (PPMSC) TO PROVIDE FOR SERVICING ADMINISTRATION. PPSFC HAS NO EMPLOYEES. THERE ARE TWO ELEMENTS IN THE FEES PAID -- SERVICING FEES AND ADMINISTRATIVE AND MAINTENANCE FEES (M&O). |
| FORM 990, PAGE 6, PART VI, LINE 11B | THE BOARD OF DIRECTORS OF PPSFC IS PROVIDED AN ELECTRONIC COPY OF THE FORM 990 ONE WEEK PRIOR TO FILING. THE DIRECTORS THEN HAVE A WEEK TO REVIEW AND GIVE COMMENTS BEFORE THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PAGE 6, PART VI, LINE 12C | THE BOARD MEMBERS OF PPSFC ARE REQUIRED TO UPDATE THEIR CONFLICT OF INTEREST STATEMENTS AT THE ANNUAL BOARD OF DIRECTORS MEETING. A RECORD OF THIS IS KEPT IN THE MINUTES OF THE BOARD MEETING. |
| FORM 990, PAGE 6, PART VI, LINE 15A | THE EXECUTIVE DIRECTOR AND OTHER PERSONNEL ARE EMPLOYEES OF PANHANDLE-PLAINS MANAGEMENT & SERVICING CORPORATION (PPMSC). THE SALARIES OF THESE INDIVIDUALS ARE ESTABLISHED BY PPMSC. |
| FORM 990, PAGE 6, PART VI, LINE 15B | THE EXECUTIVE DIRECTOR AND OTHER PERSONNEL ARE EMPLOYEES OF PANHANDLE-PLAINS MANAGEMENT & SERVICING CORPORATION (PPMSC). THE SALARIES OF THESE INDIVIDUALS ARE ESTABLISHED BY PPMSC. |
| FORM 990, PAGE 6, PART VI, LINE 19 | PPSFC'S ANNUAL AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON ITS WEBSITE. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. ARTICLES OF INCORPORATION AND PUBLIC DOCUMENTS ARE PUBLIC INFORMATION AND ARE AVAILABLE FROM THE SECRETARY OF STATE. |
| FORM 990, PART VII | SCHEDULE J, LINE 3 - QUESTIONS REGARDING COMPENSATION |
| FORM 990, PART IX, LINE 24E | LOAN SERVICING FEES 281,630 0 0 BACKUP ADMINISTRATION FEE 24,000 0 0 AMORTIZATION 18,191 0 0 BROKER/AUCTION AGENT FEES 16,990 0 0 TRUSTEE FEES 9,500 0 0 BOARD MEMBER FEES 0 1,218 0 BANK SERVICE CHARGES 0 668 0 MISCELLANEOUS EXPENSES 152 0 0 |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)
| Business Name Line2DisregardedEntityName/BusinessNameLine2Txt | Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd | Direct Controlling NADirectControllingNACd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PANHANDLE-PLAINS HIGHER EDUCATION | ||||||||||||
| AUTHORITY | 1303 23RD STREET | CANYON | TX | 79015 | 237025386 | STUD LOANS | TX | 501C3 | 11A | NA | false | |
| PANHANDLE-PLAINS MGT & SERV CORP | ||||||||||||
| 1303 23RD STREET | CANYON | TX | 79015 | 455543346 | STUD LOANS | TX | 501C3 | 11A | false | N/A | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (true) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | false | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PANHANDLE-PLAINS MGT & SERV CORP | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | M | TransactionTypeTxt |
| Involved | $1,003,706 | InvolvedAmt |
| Method Of Amount Determination | MGT & SERV CONTRACT | MethodOfAmountDeterminationTxt |
Comments